Ten new vessels for AD Ports
AD Ports Group is acquiring ten offshore vessels for approximately USD 200 million from E-NAV to reenforce its operations in the Middle East and Southeast Asia. These vessels, with an average age of nine years and younger than the industry norm, are diverse in type and are set to be integrated into the group's services by Q4/2023.
The diverse fleet addresses the current shortage of quality assets in the Middle East, particularly for upcoming offshore projects. The expansion also enhances the group's capacity by about 20% and is anticipated to generate over USD 70 million in annual revenue over the next few years.
The move aligns with AD Ports Group's strategy to diversify its maritime portfolio and capitalise on the growing offshore oil, gas, and wind markets. (pb)